Fishers tax preparer admits he stole $1.5 million in an income tax fraud scheme

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INDIANAPOLIS (AP): An Indiana tax preparer has pleaded guilty to instructing his employees to prepare more than 2,300 false client tax returns worth $1.5 million.

Federal prosecutors say David R. Franklin, 43, of Fishers pleaded guilty Thursday to three counts of procuring the preparation of false federal income tax returns. Prosecutors say he owned more than 20 Instant Tax Service stores in Indianapolis and he told his employees to prepare false and fraudulent federal income tax returns for clients.

The filings happened between 2010 and 2012. Officials say the loss to the federal government was about $1.5 million. Prosecutors say that as part of a plea agreement Franklin will be ordered to pay full restitution.

Franklin will be sentenced Oct. 14.

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